NASCAR, ExxonMobil Renew Deal, Extending Mobil 1 Sponsorship

NASCAR and ExxonMobil today announced a multiyear extension of their partnership, keeping Mobil 1 synthetic as the Official Motor Oil of NASCAR through '17. Mobil 1 will continue to be a contingency partner across all NASCAR national and touring series, with presenting sponsorship of both the Mobil 1 Driver of the Race Award and NASCAR Canadian Tire Series (NASCAR).

Terms of the deal "weren't available," but the previous deal was valued at more than $1.5M a year. It is the "second renewal Mobil 1 has signed since it struck a six-year agreement to replace Unocal 76 as the sport's official lubricant" in '03 (SPORTSBUSINESS JOURNAL, 1/21 issue).